European Commission rules out Greek debt restructuring

GODOLLO, Hungary: The European Commission ruled out Saturday any restructuring of Greece's public debt, which has exploded to around 340 billion euros ($485 billion). "Yes, we do exclude restructuring," EU Finance Commissioner Olli Rehn said as the bloc's finance ministers wrapped up two days of talks in a Hungarian castle dominated by a deal to bail out Portugal. "We have a solid plan and we are working on the basis of that plan, and it is based on very careful analysis of debt sustainability." The issue re-emerged after German news weekly Der Spiegel said in a report to appear on Monday that eurozone finance ministers discussed such an option in a telephone conference call on April 2 with Rehn and European Central Bank chief Jean-Claude Trichet. Seated alongside Rehn at a news conference in Godollo, a suburb to the north of Budapest, Trichet underlined: "We have a plan.....